U.S President Donald Trump accused China of trying to renegotiate a trade deal that has been negotiated after months of efforts and asserted he will not let that happen.
The Trump Administration on Friday imposed increased tariffs on import of Chinese products over USD200 billion worth from 10 percent to 25 percent. Trump told reporters earlier in the day that such a move is necessary to hold China to previous commitments.
"We were getting very close to a deal, then they started to renegotiate the deal. We can't have that," he told reporters at the White House.
Later in the day, the Chinese Vice Premier held meetings with the U.S Trade Representatives Robert Lighthizer.
"We cannot have that. So, our country can take in USD120 billion a year in tariffs, paid for mostly by China, by the way, not by us. A lot of people try and steer it in a different direction. It's really paid, largely, by China. And businesses will pour back into our country. So instead of making the product, it'll be old fashion way, the way we used to do it. We made our own product," Trump said defending his decision.